ANSYS, Inc. Announces Acquisition of EVEN - Evolutionary Engineering AG
Acquisition of Composites Leader Further Broadens Capabilities of Simulation Innovator
Pittsburgh, PA and Zurich, Switzerland (GLOBE NEWSWIRE) - ANSYS, Inc. (Nasdaq:ANSS), a global innovator of simulation, and EVEN – Evolutionary Engineering AG ("EVEN"), a leading provider of composite analysis and optimization technology relying on cloud computing, announced today that ANSYS has acquired EVEN, which will become ANSYS Switzerland, a wholly owned subsidiary of ANSYS, Inc. The terms of the transaction were not disclosed. Headquartered in Zurich, EVEN has 12 employees and has been a partner of ANSYS, offering EVEN's composite technologies through a product called ANSYS®Composite PrepPost™. This product is tightly integrated with ANSYS Mechanical™ in ANSYS Workbench™ and with ANSYS Mechanical APDL. EVEN also provides best-in-class engineering services in composites applications and in other areas in its fields of expertise.
Composites blend two or more materials that possess very different properties. Because they combine light weight, high strength and outstanding flexibility, composites have become standard materials for manufacturing in a range of industries, including automotive, aerospace, energy, marine, motorsports and leisure. As a result, the use of composites has grown dramatically in the last decade. This popularity has fostered the need for new design, analysis and optimization technology. Since EVEN is a leader in composite simulation, this acquisition emphasizes the high priority ANSYS is giving to this emerging technology. Composites pose many challenges for R&D teams that need to identify the appropriate formulation for a required use. To successfully produce layered composites, engineers must define the optimal material formula — which depends on the number of layers involved along with the thickness and relative orientation of each layer.
ANSYS Composite PrepPostis a pre- and post-processing solution for layered composite materials integrated into the ANSYS software portfolio. The solution empowers users to efficiently model the most complex composite structures and, at the same time, fully understand the potential failure of product models. Users can subject product designs to simple physical stresses and compute progressive damage, delamination and cracking. The technology's post-processing capabilities enable users to conduct in-depth investigations of ultimate product integrity and behavior. Users can view global results or conduct detailed analysis at the level of individual layers.
"We are very pleased that our long-standing partner relationship with the EVEN team has resulted in EVEN becoming part of the ANSYS family," said Jim Cashman, president and CEO of ANSYS. "Composites simulation is a fast growing market with application across multiple industries, broadening our industry knowledge and competencies in this area. The tight coupling of the EVEN products within our platform is highly beneficial, so we look forward to working with the EVEN employees and customers."
Additional information will be provided on the ANSYS Q1 Earnings Conference Call.
About ANSYS, Inc.
ANSYS brings clarity and insight to customers' most complex design challenges through fast, accurate and reliable engineering simulation. Our technology enables organizations -- no matter their industry -- to predict with confidence that their products will thrive in the real world. Customers trust our software to help ensure product integrity and drive business success through innovation. Founded in 1970, ANSYS employs more than 2,400 professionals, many of them experts in engineering fields such as finite element analysis, computational fluid dynamics, electronics and electromagnetics, and design optimization. Headquartered south of Pittsburgh, Pennsylvania, U.S.A., ANSYS has more than 70 strategic sales locations throughout the world with a network of channel partners in 40+ countries. Visit www.ansys.com for more information.
About EVEN – Evolutionary Engineering AG
EVEN – Evolutionary Engineering AG is a leader in composite analysis and optimization technology relying on cloud computing. EVEN also provides best-in-class engineering services in composites applications and in other areas in its fields of expertise. EVEN is a wholly owned subsidiary of ANSYS, Inc. headquartered in Zurich, Switzerland. For additional information, visit the EVEN website at http://www.even-ag.ch
Forward Looking Information
Certain statements contained in this communication regarding matters that are not historical facts, including statements regarding EVEN providing best-in-class engineering services in composites applications, statements regarding the need for new design, analysis and optimization technology, statements regarding the high priority ANSYS is giving to this emerging technology, statements regarding empowering users to efficiently model the most complex composite structures and fully understand the potential failure of product models, statements regarding users being able to subject product designs to simple physical stresses and compute progressive damage, delamination and cracking, statements regarding enabling users to conduct in-depth investigations of ultimate product integrity and behavior, statements regarding composites simulation being a fast growing market with application across multiple industries, statements regarding broadening our industry knowledge and competencies in this area, and statements regarding tight coupling of the EVEN products within our platform being highly beneficial and looking forward to working with the EVEN employees and customers, are "forward-looking" statements (as defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements in this press release are subject to risks and uncertainties. These include the risk that the businesses of ANSYS and EVEN may not be combined successfully or that such combination may take longer or cost more to accomplish than expected, and the risk that operating costs, customer loss and business disruption following the acquisition of EVEN may be greater than expected. Additional risks include the risk of a general economic downturn in one or more of the combined company's primary geographic regions, the risk that ANSYS has overestimated its ability to maintain growth and profitability to control costs, uncertainties regarding the demand for the combined company's products and services in future periods, the risk that ANSYS has overestimated the strength of the demand among its customers for its products, risks of problems arising from customer contract cancellations, uncertainties regarding customer acceptance of new products, the risk that the combined company's operating results will be adversely affected by possible delays in developing, completing or shipping new or enhanced products, risks that enhancements to the combined company's products may not produce anticipated sales, uncertainties regarding fluctuations in quarterly results, including uncertainties regarding the timing of orders from significant customers, disruption from the transaction making it more difficult to maintain relationships with customers and employees and other factors that are detailed from time to time in reports filed by ANSYS, Inc. with the U.S. Securities and Exchange Commission, including the Annual Reports on Form 10-K, the quarterly reports on Form 10-Q, current reports on Form 8-K and other documents ANSYS has filed. ANSYS and EVEN undertake no obligation to publicly update or revise any forward-looking statements, whether changes occur as a result of new information or future events after the date they were made.
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SOURCE: ANSYS, Inc.